Absa has announced the appointment of Sitoyo Lopokoiyit as Chief Executive for Personal and Private Banking, effective 1 April 2026, in a move aimed at accelerating growth and deepening customer-centric innovation across the franchise.
Lopokoiyit joins the bank with extensive experience spanning financial services, telecommunications, fintech innovation and large-scale business transformation. His appointment signals Absa’s continued focus on delivering integrated, customer-led solutions while exploring new growth opportunities within its Personal and Private Banking segment.
He most recently served as Managing Director of M-PESA Africa and Chief Financial Services Officer at Safaricom, where he spearheaded the strategy and expansion of Africa’s largest fintech platform. During his tenure, M-PESA grew into a continental powerhouse, now serving over 56 million customers and more than 5 million businesses across multiple markets.
Lopokoiyit was appointed to lead M-PESA Africa, the joint venture between Safaricom and Vodacom, with a mandate to extend the platform’s reach and relevance across the continent. Under his leadership, the platform strengthened its innovation pipeline and deepened its role in advancing financial inclusion.
Since joining Safaricom in 2011, Lopokoiyit has held several senior leadership positions, including Head of M-PESA Strategy and Business Development. He also led operations in Tanzania, further broadening his regional expertise. Over the years, he has been instrumental in driving the launch of transformative products and partnerships, including the M-PESA Super App, Fuliza, and strategic collaborations with global platforms such as PayPal and AliPay.
At Absa, he is expected to leverage his deep understanding of digital ecosystems, customer value propositions and scalable platforms to enhance the bank’s retail and private banking offerings. His experience in integrating technology with financial services positions him well to steer the business in an increasingly digital and competitive landscape.
The appointment underscores Absa’s ambition to strengthen its leadership bench and sharpen its strategic execution as it continues to evolve its Personal and Private Banking franchise in response to shifting customer expectations and market dynamics.
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